If you're in the market for a place to live, the first thing you need to decide is the type of housing you want – condo or single-family home. There are a lot of benefits to each type of housing, so the decision will have to come down to personal preference. If you're torn between the two choices, here are three factors that you should consider before choosing between a condo and a single-family home.

Lifestyle Concerns

When it comes to choosing between a condo and a single-family home, one of the most important factors to consider should be your lifestyle. If you spend the majority of your time at home – or at least in the same city – a single-family home will work well for you. However, if you do a lot of traveling for work – or for pleasure – you may want to consider the added security that a condo will provide you with. Most condos are part of a gated community, which allows you to have access to 24-hour security. That's important when you spend a lot of time away from home. Not only that, but because your condo will be attached to other units, your neighbors will be able to alert authorities if something goes wrong while you're away.

Maintenance Issues

When you own a single-family home, you're responsible for the yard maintenance. Depending on the amount of landscaping you have, the upkeep can require a considerable amount of time. However, when you own a condo, the amount of yard work you'll need to take care of will be greatly reduced. First, yards are usually much smaller with a condo. Second, when you own a condo, front yard maintenance is usually provided by on-site landscapers. If your schedule doesn't allow for a lot of spare time, you might be better served by purchasing a condo.

Community Rules

If you don't like to deal with a lot of rules, you might want to choose a single-family home, instead of a condo. Most condominium communities come with a complex set of rules and guidelines, including the number of guests you can have staying with you, or the number of pets you're allowed to have. If you do choose a condo, be sure to ask for a copy of the rules and regulations before choosing a community to purchase in.

If you're having a hard time choosing between a condo and a single-family home, use the tips provided here to help with the decision. For questions and concerns regarding your decision, and before you purchase real estate, be sure to speak to your realtor.